Money saving expert explains how you can save £500 amid cost of living crisis – Edinburgh Live

by MoneySaverExpert

With energy and shopping bills soaring, many people are taking to the internet in a bid to find ways to save money.

And whilst many of these tips involve cutting back or buying non-branded items such as your local supermarket’s own brand pasta sauce, there are other things that you can do.

TikTok is just one of many apps that people have taken to as they share their best tips for those needed financial help with one TikTok user by the name of WellPowerPlan uploading several lifestyle, organisational and wellness videos which people are finding more than helpful.

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Gaining almost 600k views, her video has been helping people save £500 across a three or six month period as well as across a one year period – depending on how much you can afford to put aside each month.

Discussing the tip online, the money-saving expert showed people how the tip works. She explained that you can start by saving £6 on a daily basis across a three month period.

Over a week, this would add up to £42 a week or £167 per month. Across three months this would mean you have saved £501.

If you were to do this over the course of six months, you would be putting less away each month. In doing so, you would want to be putting away £3 per day which would add up to £21 a week or £83 per month.

However if you don’t have much to put away, you can also do this across a period of one year. This would mean every day you would put aside £1.50. This would add up to £11 per week or £42 per year.

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Her videos have become so popular she has uploaded more at the request of her followers such as how to save £1,000, how to save £5,000 as well as how to budget property and spend less during your weekly shopping trip.

In response to the helpful video one said: “Going to try this.”

Another added: “I budget after bills and food are paid and try to save £25 a day.”

“What I’m hearing is I spend £1k a year on meal deals” a third wrote.

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